SPX500USD H4 | Bullish bounce off pivot?

TitleSPX500USD H4 | Bullish bounce off pivot?TypeBullish BouncePreference:Price could potentially fall to our pivot point at 4315.6, which is an overlap support level and slightly above the 50% fibo retracement. If price bounces off our pivot point, then price could rise towards the 1st resistance at 4367.1, which is a swing high resistance level, aligning with the 61.8% fibo retracement.Alternative scenario:If price breaks below the pivot point, then price could fall to the 1st support at 4271.4, which is an overlap support level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.